Also: Appeals court rules in favor of FI in FCRA suit; Crypto legislation, SEC lawsuits among key updates to know

June 9, 2023

CUs see growth in Q1 ([link removed] )

Federally-insured credit unions (FICUs) saw growth in total assets, insured shares and deposits, outstanding loans, and membership during the first quarter of 2023, according to NCUA call report data. NCUA Chairman Todd Harper acknowledged the “good news,” but cautioned credit unions to stay alert of potential economic challenges.

Appeals court sides with FI in FCRA dispute ([link removed] )

The U.S. Court of Appeals for the Eleventh Circuit sided with Chase Bank in a Fair Credit Reporting Act (FCRA) lawsuit, determining the bank upheld its requirements under the law to conduct a “reasonable” investigation into the plaintiff’s dispute of inaccurate information furnished to the credit reporting agencies (CRAs). NAFCU and several other organizations filed an amicus brief in support of Chase.

5 things to know this week ([link removed] )

NAFCU's widely read NAFCU Today is credit union leaders' go-to source for the latest on issues impacting the credit union industry. For those short on time, here's a roundup of this week's top need-to-know updates and resources.

ATTEND NAFCU’s CFO SUMMIT ([link removed] )

Join us in exciting Las Vegas on September 19 – 21! All CFOs, Controllers and VPs of Finance should attend.

- Learn investment strategies for optimal returns
- Delve into insights, challenges and best practices
- Explore payment trends and innovations, and much more

Save $200.00 with code CFO23SAVINGS for a limited time

VIEW AGENDA ([link removed] )

FCC proposes robotext, robocall rule ([link removed] )

The Federal Communications Commission (FCC) held its June meeting yesterday. During the meeting, the FCC proposed new rules regarding consumers’ right to revoke consent to receive robocalls and robotexts.

NCUA issues joint proposal on reconsiderations of value ([link removed] )

The NCUA, CFPB, Federal Reserve, FDIC, and Office of the Comptroller of the Currency Thursday requested comment on joint proposed guidance related to reconsiderations of value (ROV) for residential real estate transactions.

Consumer credit accelerated in April ([link removed] )

Total consumer credit grew 5.7 percent in April at a seasonally-adjusted, annualized rate and is up 6.8 percent compared to a year ago. Revolving credit – primarily credit cards – rose 13.1 percent. Non-revolving credit – primarily auto and education loans – rose 3.2 percent on the month and is up 4.8 percent from a year ago.

How is fraud impacting CUs? ([link removed] )

NAFCU has extended the deadline for this month’s Economic & CU Monitor survey – credit unions now have until Wednesday to share insights into fraud trends facing the industry. The survey can be completed online and its responses help inform the association’s advocacy efforts with lawmakers and regulators, as well as its resources to help credit unions prevent and address fraud.

nafcu-167x300-cobrowsing ([link removed] )

NAFCU CALENDAR ([link removed] )

MAY 1 -

SEPT 30

Regulatory Compliance School On-Demand ([link removed] )

An On-Demand Event

JUNE

12
NCUA - Climate-Related Financial Risk ([link removed] )

Comments Due to NAFCU

JUNE

14
Collateral Protection Insurance – Adapting to Changing Market Dynamics ([link removed] )

Complimentary Webinar

JUNE

27 - 30
Engage 2023: NAFCU's Annual Conference ([link removed] )

Long Beach, CA

JULY

1
Federal Reserve - Debit Card Interchange Fees and Routing ([link removed] )

Compliance Deadline

Get the NEW 2023 Credit Union Compliance Roadmap for your ENTIRE CU!

The 2023 Credit Union Compliance Roadmap ([link removed] ) is a best-selling electronic manual that translates complex regulatory language into easy-to-understand terms and has just been updated with many updates for 2023. One purchase allows you to share the manual with your entire CU. NAFCU members, save $100.00!

Read a portion of Reg CC for free!
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